Scotiabank Raises Ivanhoe Mines (TSE:IVN) Price Target to C$19.00

Ivanhoe Mines (TSE:IVN) had its target price increased by Scotiabank from C$18.00 to C$19.00 in a research note published on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on IVN. Bank of America upped their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. TD Securities upped their target price on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a buy rating in a report on Wednesday, February 28th. Eight Capital raised their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Canaccord Genuity Group boosted their price objective on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Finally, Raymond James upped their price objective on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research note on Tuesday, April 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines has an average rating of Buy and an average price target of C$22.17.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$19.06 on Wednesday. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$20.66. The stock has a market cap of C$24.21 billion, a P/E ratio of 52.94 and a beta of 2.01. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. The company has a 50-day moving average of C$16.78 and a two-hundred day moving average of C$13.99.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.05). As a group, research analysts predict that Ivanhoe Mines will post 0.4702621 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. In related news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. Corporate insiders own 50.85% of the company’s stock.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.